News & Analysis as of

Fraud Consumer Protection Laws Financial Institutions

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Wiley Rein LLP

Wiley Consumer Protection Download (July 29, 2025)

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FTC Obtains Temporary Restraining Order and Asset Freeze Against Seven Debt Relief Companies and Their Owners for Allegedly Deceptive Practices. On July 14, the FTC filed a complaint and motion for temporary restraining order...more

K2 Integrity

Protect Yourself From Banking Phone Scams

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Have you ever received a phone call claiming that your bank account has been compromised? You’re not alone. Banking phone scams are on the rise, and criminals are becoming more convincing by the day....more

Troutman Pepper Locke

Wire Fraud Litigants Beware: Fourth Circuit Ruling Protects the Banks — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by veteran litigators and Troutman Pepper Locke Partners Mary Zinsner and Heryka Knoespel to dissect a groundbreaking Fourth Circuit decision on bank...more

A&O Shearman

UK APPG publishes report assessing the APP fraud mandatory reimbursement requirement

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The UK All-Party Parliamentary Group (APPG) on Fair Banking has published its latest report, "No Half Measures – A Blueprint to Beat APP Fraud", alongside a press release. The report assesses the UK's response to authorised...more

Cozen O'Connor

Hundreds of Millions Lost by Seniors Due to Bankruptcies Filed by CCRC Communities

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The Wall Street Journal has reported that recent bankruptcies nationwide in the Continuing Care Retirement Community (CCRC) segment of the long-term care marketplace have resulted in residents losing their buy-in deposit....more

Troutman Pepper Locke

Navigating Elder Fraud: Challenges and Legal Trends in Payment Systems — Payments Pros – The Payments Law Podcast

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In this episode of Payments Pros, Carlin McCrory is joined by Mary Zinsner, a partner in the Consumer Financial Services Practice Group, to explore the increasing litigation trends in the payments industry, with a focus on...more

Orrick, Herrington & Sutcliffe LLP

Navigating Regulation E Risk in Banking as a Service Models

In the consumer deposits and payments products space, the banking as a service (BaaS) model creates significant opportunities for fintech innovation and consumer choice — but BaaS arrangements have also drawn the attention of...more

Orrick, Herrington & Sutcliffe LLP

Second Circuit sides with bank in FCRA case

On May 28, the U.S. Court of Appeals for the Second Circuit affirmed a judgment issued by a district court judge in U.S. SDNY dismissing a plaintiff-appellant’s claims under the FCRA for allegedly failing to reasonably...more

JAMS

[PODCAST] When Scammers Strike: How Mediation Can Help Resolve Consumer Fraud Claims

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In this podcast, JAMS neutrals Peter Kamminga, Esq., Ph.D., and Jeffrey Grubman, Esq., discuss the rise in financial scams targeting consumers and the various ways in which those scams typically take shape, including...more

McGlinchey Stafford

Court Finds TILA Statute of Limitation is Not Equitably Tolled

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On March 31, 2025, the Western District of New York dismissed a pro se plaintiff’s Truth-in-Lending Act (TILA) claim as being time-barred. In Marion v. Transitowne Jeep Chrysler Dodge Ram Williamsville, the Plaintiff...more

Orrick, Herrington & Sutcliffe LLP

CFPB files amended complaint against bank following court’s denial

On March 13, the CFPB filed an amended complaint against a Texas bank alleging violations of the CFPA, the EFTA, and its implementing Regulation E. The complaint related to a program in which the bank managed federal benefit...more

A&O Shearman

PSR publishes policy statement on 2024 APP scams data

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The UK Payment Systems Regulator (PSR) has published a policy statement outlining its approach to publishing authorised push payment (APP) scams data for 2024. In 2025, the PSR will take a different approach to publishing...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses lawsuit against banks and payment service

On March 5, the U.S. District Court for the District of Arizona received the CFPB’s notice of dismissal with prejudice in a lawsuit against several banks involving alleged widespread digital payment fraud on a popular...more

BCLP

Fighting Fraud: Where Does the Responsibility to Protect Consumers Lie?

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Fraud now accounts for 40% of crime in England and Wales. However, in this era of strained public finances, and the often international dimension to consumer fraud, the Government’s approach has often been to look to the...more

Orrick, Herrington & Sutcliffe LLP

CFPB files complaint against payment service and three banks

Recently, the CFPB released the complaint that it filed against a peer-to-peer payment service (P2P) and three large banks, alleging widespread fraud on the P2P platform. The Bureau filed the complaint in the U.S. District...more

A&O Shearman

The U.K.'s Authorised Push Payment APP Fraud Reimbursement Scheme

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The UK’s Authorised Push Payment (APP) Fraud Reimbursement Scheme came into force on October 7, 2024. It requires in-scope payment service providers (PSPs) sending payments through either the Faster Payment System (FPS) or...more

A&O Shearman

UK Financial Ombudsman Service Updates Guidance on Handling Complaints Concerning APP Fraud, Scams and Fraud

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The Financial Ombudsman Service has published updated versions of its guidance for businesses on: (i) handling complaints concerning Authorized Push Payment fraud and other scams involving authorized payments or withdrawals;...more

Conyers

Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

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Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

Cozen O'Connor

FTC Flags COVID-19 Fraud & Abuse | $550 Million Subprime Auto Loan Settlement | Bank Accounts For Marijuana Businesses Urged

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COVID-19- FTC Flags for COVID-19-Related Fraud and Abuse- •The Federal Trade Commission (“FTC”) and the Small Business Administration (“SBA”) sent joint letters to marketing company ITMedia Solutions, LLC (“ITMedia”)...more

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